Singapore’s Manufacturing Output Beats Forecasts Again

Singapore’s manufacturing output rose by 7.6 percent in November 2018
compared to November last year, beating analyst estimates for a second
month in a row.

According to data from the Singapore Economic Development Board
released on 26 December, Singapore’s factory output went up by 7.6
percent on a yearly basis in November 2018, beating the median forecast
of 4.1 percent expansion in a Reuters survey of eight economists.

Factory output in the previous month, October, had also exceeded analyst
expectations as Singapore’s manufacturing output recovered from 0.1-
percent annual contraction in September. In October, Singapore’s
transport engineering output jumped by 30.8 percent and pharmaceuticals
output expanded by 15.8 percent.

In November, output continued to beat estimates, helped by a surge in
the biomedical manufacturing sector, transport and engineering, and
electronics.

On a seasonally adjusted monthly basis, Singapore’s manufacturing
output rose by 2.8 percent in November compared to October.

Biomedical output jumped 18.5 percent in November 2018 compared to
the same month of 2017, with pharmaceuticals output soaring by 23.9
percent, data from the Singapore Economic Development Board showed .

Singapore’s transport engineering sector saw its output increase by 11.3
percent annually in November, with all segments rising. The highest
growth was registered by the marine and offshore engineering segment
whose output expanded by 26.6 percent, on the back of a low base for
comparison in November 2017 and more work completed in offshore
projects.

Electronics manufacturing output went up by 11.2 percent in November
2018 compared to November 2017. Semiconductors, consumer
electronics, and other electronic modules and components were the top
performing segments in the electronics sector.